Most houses are bought to live in, they are bought not as investment but a place to call your own. While we talk about things that are easy to factor in like interest rates and the economy. Things that are hard to factor in to house prices, are when the wife wants to live in an area. Schools we pay more to be in a school zone, we pay more to live closer to work, we pay more for prestige people for some reason like to say they live in a suburb.
While most here try and work out a direction of prices these factors are hard to put in, we look when we buy for ourselves not as an investment but a life style. When comparing to shares or anyother investment we must remember that no other thing has the emotional baggage that housing does. And I am talking both ways bull and bear with shares we are cold and calculating. We try and comapare this to other investment vehicles but are wrong and this why the twain on ths thread shall never meet. One thing I have learnt from housing is it does the impossible and is very hard to read as from 3 years ago not one person predicted where we are now!
